Sparc Electrex Appoints Three New Independent Directors; Niraj Variava Resigns
Sparc Electrex Ltd announced significant changes in its board structure, appointing three new independent directors and recording the resignation of an existing director due to tenure completion. The company also finalized the reappointment of its internal auditors for the fiscal year 2026-27.The appointments were made by the Board of Directors effective June 6, 2026, pending shareholder approval. The newly appointed directors are Mr. Jayantilal Raghunathram Suthar, Mr. Rohit Bhatia, and Ms. Asha Shravan Kumar Khedia. All three individuals have been appointed for a term of five years as Independent Directors.
The details regarding the new appointments are summarized below:
| Director Name | DIN | Appointment Type | Key Qualification & Profile |
|---|---|---|---|
| Mr. Jayantilal Raghunathram Suthar | 07265227 | Additional Non-Executive Independent Director | A highly competent Company Secretary and Cost Accountant with 15 years of experience in Accounts, Audit, Taxation, and Corporate laws. |
| Mr. Rohit Bhatia | 10942375 | Additional Non-Executive Independent Director | A Practicing Company Secretary experienced in Corporate Governance, Board processes, Statutory compliances, and Regulatory matters. |
| Ms. Asha Shravan Kumar Khedia | 11743210 | Additional Non-Executive Independent Women Director | A Practicing Company Secretary with over 13 years of experience in Taxation and Corporate Advisory, known for ensuring ethical governance. |
None of the newly appointed directors disclosed any relationship with existing company directors or shared holdings in Sparc Electrex Ltd.
Niraj Variava Resigns as Independent Director
The company also confirmed the resignation of Mr. Niraj Hareshbhai Variava (DIN: 09197068), who has tendered his resignation from the post of Non-Executive Independent Director. This departure is due to the completion of his present tenure of five years, effective after the close of business hours on June 7, 2026. The Board noted the valuable contribution and guidance provided by Mr. Variava during his association with Sparc Electrex Ltd.Internal Auditors Reappointed
Furthermore, the Board of Directors reappointed M/s. Rajesh H Gupta & Co., a Chartered Accounts firm based in Mumbai (FRN: 133884W), as the company's Internal Auditor for Fiscal Year 2026-27. This decision was made following the recommendations of the Nomination and Remuneration Committee.Stock Price Movement
Sparc Electrex Ltd. settled on Friday afternoon at ₹5.20, closing down 0.95% for the day. The shares traded within an intraday range marked by a low of ₹5.20 and a high of ₹5.25.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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